By Wayne Robinson | 23 June 2023 The Australian Tax Office is owed $30bn, two thirds of it by small and medium sized enterprises, with industry insiders warning a crackdown is imminent. Have a tax debt: The ATO is coming Insolvency experts Rodgers Reidy says the overlying message is clear if youve got an outstanding…
There will be no operational changes to Rockport Australia, as the parent company undergoes voluntary restructuring under Chapter 11 bankruptcy. US-based Rockport Group has also entered into negotiations with a potential purchaser which has significant experience in the industry. Australian and New Zealand distributor True Alliance confirmed the footwear brand is continuing to operate as normal…
Brussels, 21 June 2023 FTI Consulting, Inc. (NYSE: FCN) today announced the continued investment in its Corporate Finance & Restructuring segment in Belgium with the appointment of business transformation expert Jean-Michel Mollo. His arrival marks the launch of the firms Business Transformation practice in the Belgian market, complementing FTI Consultings established strategic communications offering. Mr. Mollo,…
Electronic Arts has announced a restructuring, realigning into EA Entertainment and EA SPORTS. Here is what it means for the companys business. What happened? In an announcement shared with employees, Electronic Arts CEO Andrew Wilson revealed that the publisher will now function as two organizations, EA Entertainment and EA Sports. This move should help it…
Electronic Arts (EA) is restructuring for the future, with the current organisation splitting to form two distinct studios: EA Entertainment, and EA Sports. The news was announced by CEO Andrew Wilson, in a lengthy statement that detailed major changes, and why theyve been implemented. This evolution of our company continues to empower our studio leaders…
Checkers reached a restructuring deal with its lenders on Tuesday. | Photo courtesy of Checkers Drive-In Restaurants Checkers Drive-In Restaurants on Tuesday said it has reached a deal with its lenders that will give them a majority stake in the company in exchange for a reduction in its overall level of debt. As part of…
Networking News Gina Narcisi June 20, 2023, 09:00 AM EDT Having gotten this financial restructuring completely behind us with extraordinary results where we now have a genuine financial strength so that we can focus completely on business strategy and business realignment thats the fun part, Avayas CEO Alan Masarek tells CRN. Avaya Ready To Re-ENGAGE…
June 20 (Reuters) – Alibaba Group Holding (9988.HK) said on Tuesday that Eddie Yongming Wu, chairman of its Taobao and Tmall Group, will succeed Daniel Zhang as chief executive officer, in the company’s biggest executive reshuffle since its restructuring. The e-commerce giant announced in March it will split into six business units, each with its…
BUSINESS RESTRUCTURING REVIEWVOL. 22, NO. 3 MAY-JUNE 20231IN THIS ISSUE1 U.S. Supreme Court Rules that Bankruptcy Codes Protection of Unstayed Asset Sale Orders to Good-Faith Purchasers Is Not Jurisdictional2 Lawyer Spotlight: Meet Corinne Ball5 New York Bankruptcy Court Breaks from Precedent in Ruling that Time Approach Should Be Used to Calculate Landlords Claim for Lease…
LGChemplanstooffloadmarginalbusinesses South Koreas LG Chem Ltd. is speeding up restructuring efforts to sell or downsize uncompetitive businesses, with an aim to focus on three growth drivers: battery materials, eco-friendly businesses and new drug development. Earlier this month, it sold the in vitro diagnostics business of the life science division to Seoul-based Glenwood Private Equity for…